Rs 500, Rs 1000 Rupees (Currency) Notes Terminated- PM Narendra Modi

 

Today Latest News – PM Modi – Banned Rs 500 & Rs 1000 Currency’s  

 

High Lights:- As per the announcement by the Indian Prime Minister, the existing Rs.500 and Rs.1,000 banknotes are being withdrawn from the Indian financial system from tonight, November 8, 2016. The current notes of Rs.500 and Rs.1,000 will no longer be valid and are being withdrawn from circulation from November 8 midnight.

News in Details

 

notes-banned

 

In a noteworthy stride to check dark cash, Prime Minister Narendra Modi on Tuesday declared demonetisation of Rs 500 and 1000 coin notes with impact from midnight, making these notes invalid in a noteworthy strike on dark cash, fake money and debasement. In his broadcast deliver to the country, Modi said individuals holding notes of Rs 500 and Rs 1000 can store the same in their bank and mail station accounts from November 10 till December 30.

 

Modi said the notes of Rs 500 and Rs 1000 “won’t be lawful delicate from midnight today” and these will be “simply useless bit of paper.” However, he said that all notes in lower group of Rs 100, Rs 50, Rs 20, Rs 10, Rs 5, Rs 2 and Re 1 and all coins will keep on being legitimate. He additionally declared that new notes of Rs 2000 and Rs 500 will be presented.

 

Modi included that there will be no adjustment in some other type of money trade be it check, DD, instalment by means of credit or platinum cards and so on.

 

He said the administration has been battling the threat of dark cash and defilement as far back as it accepted power two years prior. He likewise asked individuals to help government in its battle against fake coin and dark cash.

 

The head administrator communicated certainty that the staff of banks and post workplaces will meet the challenge at hand to present the new request inside the accessible time. He said he is cheerful that political gatherings, specialists, social associations and the media will go more remote than the administration in making it a win

 

“Banks will be shut tomorrow. It will bring about some hardship to you… .Let us overlook these hardships… In nation’s history, there comes a minute when individuals will need to partake in the country building and remaking. Not very many such minutes come in life,” Modi said.

 

The PM said the measures were gone for checking the “sickness” of defilement and dark cash which have taken profound root. “There is a requirement for a conclusive war against the danger of defilement, dark cash and psychological warfare… Corruption, dark cash and fear based oppression are rotting wounds which make the nation empty from inside,” he said.

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